Wednesday June 9, 2010 - 12:44:44 GMT
Share This Story
FX Thoughts for the Day - www.fxthoughts.com
FX Thoughts for the day : 09-Jun-2010 - 1242 GMT
EURO, JAP YEN and EURO-YEN
Read our current comments and trade recommendations on EUR-USD, USD-JPY and EUR-JPY by registering at
Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below
USD-CHF @ 1.1458/61...Buy dips
R: 1.1500 / 1.1565-90 / 1.1620-40
S: 1.1450 / 1.1408 / 1.1350
Dollar-Swiss has come down and is currently trading below 1.1480. We may see the pair fall further towards 1.1400 over the coming sessions today. Having said this, we would still prefer to be out of the markets immediately, and would want to enter longs at lower levels ie 1.1400-350, in anticipation of a rise towards 1.1550-650 in the coming sessions over the next few days.
Overall we are bullish on the pair with an expected rise towards 1.19-20 in the coming weeks.
GBP-USD @ 1.4540/43...Bearish
R: 1.4592 / 1.4640-60
S: 1.4500 / 1.4450 / 1.4370-51
Cable has moved up to touch a high of 1.4548 in the European session today. We may see the pair come down towards 1.4400 in the coming sessions over today and tomorrow. We see less chances of any further rally beyond 1.4550 on the pair today.
Overall, we are bearish on the pair with an expected fall towards 1.4250-100 in the next few weeks.
AUD-USD @ 0.8330/33...Mixed immediately...Bearish medium term
R: 0.8350 / 0.8383 / 0.8430
S: 0.210-30 / 0.8149 / 0.8100
Aussie has moved up in the Asian and the European session today. We see the pair rise towards 0.8400. However, the picture for the next 3-4 days remain bearish with chances of seeing 0.8150-100. However, strong break above 0.8400 may prove us wrong with a rise towards 0.8500 by end of this week.
In the coming weeks, we see the possibility of a fall towards 0.7700 in case of a strong break below 0.8100.
Forex Trading News
Daily Forex Market News
Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."